Market Realist Weekly: Get Real 9/18/17

Markets Started Strong and Finished Solid Last Week

By Winston Smith
|
Sep 18, 2017 8:28 am EST

Strong opener and decent close

Last week, financial markets opened on a strong note as Hurricane Irma died down and the damage was less than anticipated. Across the board, markets (SPY) (NASDAQ) (DJI) rose 1%–2.5% in the US. Oil (USO) had an even better week. OPEC tried to extend cuts beyond March of next year. As risk assets rallied, gold (GLD) gave back a bit during the week and fell 2%. On Monday, the Dow opened almost 260 points higher followed by another up day on “Apple Day” Tuesday. Here are the highs and lows last week:

Hurricane Irma weakened with damage estimates as high as $20 billion–$65 billion, but lower than initial fears.